Overvalued Real Estate - Is Latisha James Playing With Fire in Trump matter?

[JBG]

Latisha James, NY Attorney General is engaged in a highly publicized fraud trial against Donald Trump. My own views on Trump are strictly neutral. I feel that Mar a Lago (sp) is not the only overvalued real estate in the country. My guess is that almost all high-end property is way overvalued.

The only way these properties change hands is in highly complex, highly leveraged transaction. Only a lunatic or eccentric would pay real money for most commercial or high-end resort properties such as Mar a Lago.

If Latisha James wins, it would expose the fact that most real estate is highly leveraged and their titular "owners" have little or no equity. If the values dropped to fair salable values, the properties would instantly have huge negative equity and face foreclosure. There would be no cash market for most of these properties. If Latisha James wins, could she trigger a depression by winning?

 

[BackAgain]

Letitia is an idiot hoping to be a moron.

 

[TroglocratsRdumb]

The Bank didn't think that it was overvalued.
Trump paid the loan off, and everyone is happy.
This is a 100% politically motivated indictment.

 

[LAUGHatLEFTISTS]

Latisha James is playing the useful idiots.

 

[1srelluc]

No "crime" at all, everyone got paid on time and in full....Nothing burger.

But yeah, most "famous" personalities properties are overvalued if it's thought that their owner's name has the "juice" for it to bring more than market value.

Over the years how many Hollywood star's estates went on the market priced to the moon yet sold for much less after sitting for a spell?

 

[Kilroy2]

Latisha James, NY Attorney General is engaged in a highly publicized fraud trial against Donald Trump. My own views on Trump are strictly neutral. I feel that Mar a Lago (sp) is not the only overvalued real estate in the country. My guess is that almost all high-end property is way overvalued.

The only way these properties change hands is in highly complex, highly leveraged transaction. Only a lunatic or eccentric would pay real money for most commercial or high-end resort properties such as Mar a Lago.

If Latisha James wins, it would expose the fact that most real estate is highly leveraged and their titular "owners" have little or no equity. If the values dropped to fair salable values, the properties would instantly have huge negative equity and face foreclosure. There would be no cash market for most of these properties. If Latisha James wins, could she trigger a depression by winning?

The rest of the story

He used the valuation to get a loan. It falls under real estate laws


it is aa felony or a misdemeanor

Loan fraud or lending fraud encompasses any kind of deceitful action designed to gain a financial advantage during the loan process. There are many types of loan fraud, such as mortgage fraud,

 

[excalibur]

... This is a 100% politically motivated indictment.

They all are. Though this case is a civil matter.

 

[BackAgain]

The rest of the story

He used the valuation to get a loan. It falls under real estate laws


it is aa felony or a misdemeanor

Loan fraud or lending fraud encompasses any kind of deceitful action designed to gain a financial advantage during the loan process. There are many types of loan fraud, such as mortgage fraud,

Wrong. Don’t bleat. Cite the actual law.

I’m still wondering if any of you never Trump folks can cite to any law involving any claim of “fraud” (criminal or civil) which doesn’t require an alleged actual “victim.”

 

[Rambunctious]

Its none of her business what he valued the property for... the banks could have done their evaluation as the form Trump submitted stated and told them to do... The banks wanted the interest fees... she has no case... People.... she just doesn't have a case on some guy named Joe Blow... she has no case on a former US President.... And she campaigned on getting Trump... this is totally unacceptable....

 

[CrusaderFrank]

The rest of the story

He used the valuation to get a loan. It falls under real estate laws


it is aa felony or a misdemeanor

Loan fraud or lending fraud encompasses any kind of deceitful action designed to gain a financial advantage during the loan process. There are many types of loan fraud, such as mortgage fraud,

I had no idea that banks just take your word for the property value when you apply for a loan!!

“This new learning amazes me!”

 

[Admiral Rockwell Tory]

The rest of the story

He used the valuation to get a loan. It falls under real estate laws


it is aa felony or a misdemeanor

Loan fraud or lending fraud encompasses any kind of deceitful action designed to gain a financial advantage during the loan process. There are many types of loan fraud, such as mortgage fraud,

Who was defrauded?

 

[Woodznutz]

I had no idea that banks just take your word for the property value when you apply for a loan!!

They don't. They send out their own appraiser to evaluate the property. James is about to get a lesson in the real estate business. She might even learn what 'boot' is.

 

[Dekster]

Latisha James, NY Attorney General is engaged in a highly publicized fraud trial against Donald Trump. My own views on Trump are strictly neutral. I feel that Mar a Lago (sp) is not the only overvalued real estate in the country. My guess is that almost all high-end property is way overvalued.

The only way these properties change hands is in highly complex, highly leveraged transaction. Only a lunatic or eccentric would pay real money for most commercial or high-end resort properties such as Mar a Lago.

If Latisha James wins, it would expose the fact that most real estate is highly leveraged and their titular "owners" have little or no equity. If the values dropped to fair salable values, the properties would instantly have huge negative equity and face foreclosure. There would be no cash market for most of these properties. If Latisha James wins, could she trigger a depression by winning?

In my area EVERYTHING is overvalued right now.....absolutely no reason falling down 80 year old 2 bedroom mill houses that were selling in the $20-30K's in 2020 should be selling for in the $150K's in 2023. I just fear this is an indirect way to raid the hell out of people's 401K's. The speculation investing is so insane I cannot see a logical reason for it other than somebody being up to something underhanded.

 

[Muhammed]

No "crime" at all, everyone got paid on time and in full....Nothing burger.

But yeah, most "famous" personalities properties are overvalued if it's thought that their owner's name has the "juice" for it to bring more than market value.

Over the years how many Hollywood star's estates went on the market priced to the moon yet sold for much less after sitting for a spell?

She say Mar a Lago is only worth $18 million when it brings in over $20 million per year in revenue.

It's beyond ridiculous.

 

[CrusaderFrank]

The rest of the story

He used the valuation to get a loan. It falls under real estate laws


it is aa felony or a misdemeanor

Loan fraud or lending fraud encompasses any kind of deceitful action designed to gain a financial advantage during the loan process. There are many types of loan fraud, such as mortgage fraud,

So Trump could have said that the property is worth $6 trillion, right?

 

[Woodznutz]

In my area EVERYTHING is overvalued right now.....absolutely no reason falling down 80 year old 2 bedroom mill houses that were selling in the $20-30K's in 2020 should be selling for in the $150K's in 2023. I just fear this is an indirect way to raid the hell out of people's 401K's. The speculation investing is so insane I cannot see a logical reason for it other than somebody being up to something underhanded.

It's an extreme example of "whatever the market will bear". The streets are filled with people living in tents because of this.

 

[JoeB131]

Latisha James, NY Attorney General is engaged in a highly publicized fraud trial against Donald Trump. My own views on Trump are strictly neutral. I feel that Mar a Lago (sp) is not the only overvalued real estate in the country. My guess is that almost all high-end property is way overvalued.

The only way these properties change hands is in highly complex, highly leveraged transaction. Only a lunatic or eccentric would pay real money for most commercial or high-end resort properties such as Mar a Lago.

If Latisha James wins, it would expose the fact that most real estate is highly leveraged and their titular "owners" have little or no equity. If the values dropped to fair salable values, the properties would instantly have huge negative equity and face foreclosure. There would be no cash market for most of these properties. If Latisha James wins, could she trigger a depression by winning?

Anything that is bad for Trump is good for America.

I doubt most property owners did what the Trump Organization did, which was deliberately lie about the value of their properties.

 

[Kilroy2]

So Trump could have said that the property is worth $6 trillion, right?

He could have said it but when he filled out loan documents which does require an accurate appraisal then it is a different scenario . Appraisal are done by professional and not the owner who gives a figure that he THINKS is correct. They can overinflated the value easily.

So he can broadcast to the world what he thinks the value is!

But when applying for a loan he should get it appraised by professionals. Just because he may not like the figure is no reason to ignore it.

A value he believes to be true because it will get him favorable loans. Mortgage and real estate fraud is a crime in all the books.

If trump used figures in a loan application based on what he believes , yet when it is appraised at a lower value by a professional appraisal agency then he ends up where he is at. In court.

Property owners can say; what they think the value of the property is.

When doing business, they need to be accurate and its best to use professionals.

rich guy like trump can afford to pay someone.

Trump has had 4 failed casinos, failed airline

Though he has acknowledged mistakes in piling crippling debt on Trump Hotels and CasinoResorts, Donald Trump has steadfastly maintained that his resorts were the best-run and highestperforming casinos in Atlantic City.

yet went bankrupt

https://docs.house.gov/meetings/JU/JU00/20200929/111078/HMKP-116-JU00-20200929-SD002.pdf

This but one example and there are plenty more

 

[Wild Bill Kelsoe]

The rest of the story

He used the valuation to get a loan. It falls under real estate laws


it is aa felony or a misdemeanor

Loan fraud or lending fraud encompasses any kind of deceitful action designed to gain a financial advantage during the loan process. There are many types of loan fraud, such as mortgage fraud,

Where was the fraud?

 

[Kilroy2]

Where was the fraud?

The better question is what is mortgage or property fraud. If you take the time , you will find the answer. It is not just fraud.

yet it is a mistake to believe that NY is prosecuting Trump based on no fraud or that they can't prosecute him on fraud.

Mortgage fraud is a non-violent, white collar criminal offense perpetrated against or by a bank, lienholder, or other financial institution. Mortgage fraud can involve the use of fraudulent means to obtain or secure a mortgage loan that is larger than your financial situation can honestly afford. Mortgage fraud can also involve any use of false pretenses, misleading statements, or fraudulent transactions to improperly obtain money, assets, or items of value from a bank or lending institution


New York Penal Law Section 187.05 criminalizes mortgage fraud, making the offense a felony any time more than $1,000 in money is taken as part of a fraud scheme and a misdemeanor
if fraud schemes involve less than $1,000. Defendants can also be charged with other related offenses depending upon the kind of mortgage fraud they have been accused of participating in.


Mortgage Fraud Attorney: Penalties, Charges in New York.